American Express Q2 Earnings: CEO Raises Annual Profit And Marketing Spend Outlook After Q2 Profit Beat
Portfolio Pulse from Anusuya Lahiri
American Express (NYSE: AXP) reported Q2 earnings with an 8% revenue growth to $16.33 billion, slightly missing analyst estimates. Adjusted EPS of $3.49 beat expectations. Despite initial gains, AXP shares fell 1.69% premarket. CEO Squeri raised the annual profit and marketing spend outlook.
July 19, 2024 | 11:58 am
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American Express reported Q2 revenue growth of 8% to $16.33 billion, missing analyst estimates. Adjusted EPS of $3.49 beat expectations. Despite initial gains, AXP shares fell 1.69% premarket. CEO Squeri raised the annual profit and marketing spend outlook.
While American Express reported strong earnings with an EPS beat, the slight miss on revenue and increased expenses led to a premarket decline in share price. The raised annual profit and marketing spend outlook could stabilize or boost the stock in the short term.
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